[161 Pages Report] The smart railways market is estimated to grow from USD 10.50 billion in 2016 to USD 20.58 million by 2021, at a Compound Annual Growth Rate (CAGR) of 14.4% during the period 20162021. The base year considered for the study is 2015 and the market size forecast is from 2016 to 2021.

Restraints

Opportunities

Challenges

Difficulties in integration of smart solutions with analytics capabilities

Integration complexities over legacy systems and networks

High demographic growth and urbanization

As per the United Nations (UN) statistics experts, the world population is expected to cross the 10 billion mark by 2050. Close to half of that population is expected to be residing in the countries of sub-Saharan Africa, Latin America, and APAC where population growth would be more than threefold. In these nations, railways is a well-suited means of mass transportation of passengers and freight. The combination of economic and on-going population growth will motivate more than half of the worlds population to live in cities and towns. This is likely to increase the level of urbanization by 2050 to approximately 66% from its current 54%. Most of this growth is expected to occur in Africa and Asia.

Objectives of the study:

To define, describe, and forecast the smart railways market on the basis of five regions, namely, North America, Europe, APAC, Middle East and Africa (MEA), and Latin America

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)

To strategically analyze each sub-segment with respect to individual growth trends, future prospects, and contribution to the total market

To analyze the opportunities in the market for stakeholders by identifying high-growth segments of the smart railways market

To strategically profile key players of the market and comprehensively analyze their core competencies in the market

To track and analyze competitive developments, such as new product launches, mergers & acquisitions, partnerships, agreements, and collaborations in the global smart railways market

The research methodology used to estimate and forecast the smart railways market begins with capturing data on key vendor revenues and the market size of the individual segments through secondary sources such as industry associations, trade journals, IEEE, and the international journal of railway technology etc. The vendor offerings are also taken into consideration to determine market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global smart railways market from the individual technology segment. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key industry personnels, such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary discussion participants is depicted in the below figure:

Company Information

Critical questions which the report answers

Which are the key players in the market and how intense is the competition?

The smart railways market size is estimated to grow from USD 10.50 billion in 2016 and to USD 20.58 billion by 2021, at a CAGR of 14.4% from 2016 to 2021. Some of the major factors that are driving the growth of the smart railways market include the demographic growth & hyper-urbanization, demand for improved service quality, telecom-based technological growth, and emergence of IoT technology.

The scope of this report covers the smart railways market analysis by solution, service, component, and region. The managed services segment is expected to grow at the highest CAGR during the forecast period. Managed services support the implementation of smart railways solution across trains and stations.

The rail analytics system is expected to grow at the highest CAGR during the forecast period due to the rise of demographic growth and hyper-urbanization. In addition to that, the cloud-based services, analytics, and mobile internet technologies demand are increasing due to their efficient IT management and reliable security environment.

On the basis of components, the multimedia and infotainment displays segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing demand of improved service quality and gain competitive advantage.

As per the geographic analysis, the adoption of smart railways solutions across APAC is estimated to rise at a significant growth rate due to increasing global competition, increasing penetration of smart devices, connected machines, and increasing investment in smart cities. The regional analysis of the market involves the classification of the solution, services, and components into North America, Europe, APAC, MEA, and Latin America.

Emerging trend of smart cities and emergence of IoT is driving the smart railways market

Passenger Information System

PIS is a key communication link between transportation operators and passengers. It is an electronic operating tool that provides, at any given time, visual and acoustic information to passengers on a route, both automatically or programmed manually. Along with system reliability, safety, and general appearance, the ability of the operators to provide accurate and current information on arrival and departure times is a key component of passenger satisfaction. PIS consists of real-time train tracking, route information & scheduling, travel planning, passenger infotainment, and online connectivity solutions.

Advanced Security Monitoring System

Advanced security monitoring system is an extensive engineering and security system used to secure information in all rail-related operations such as trains, stations, track & tunnels, depots, and control centers. It helps in securing the railway transportation facilities and infrastructure. The solution performs the real-time analysis of many data-streams coming from analogue and digital sources, with the ability to include on-line discriminating functionalities and the possibility to transmit data through wired or wireless networks.

Rail Communication and Networking System

Rail communication system involves voice and data between the train and the track equipment for better traffic and infrastructure management. Efficient railway operations rely on accurate, on-time communications among stations, control and dispatch centers, and rolling stock, to ensure safety, security and uninterrupted service. Railway communication systems must, therefore, provide reliable transmission of signaling, voice, video, and data traffic along railway lines and across backbone transmission networks. Rail communication and networking system provides the most secured communication among all railway operation management facilities and data networks, as well as effective communication in remote areas such as rail construction sites or natural disaster sites.